RE: The BushBank Program Private Land Stream
Date: 26/9/2024
BushBank Program – Private Land Stream makes significant progress in restoring habitat in Victoria.
Eighteen months in and the Victorian Government’s BushBank Program Private Land Stream has secured over 5,746 hectares for restoration, representing more than a quarter of the program’s ambitious 20,000 hectare target. 43 projects, including private landowner and BushBank Revolving Fund properties, are in progress. This amounts to 2879 hectares of land restoration underway across Victoria, with a further 2,867 hectares planned for revegetation in 2025 and beyond. These plantings so far are estimated to sequester 483,478 tonnes of CO2e by 2050.
The program, with Cassinia Environmental as the lead Project Delivery partner, saw 68,760 seedlings planted and 772kg of seed sown across 2087 hectares this planting season. Plantings are occurring across a range of habitats in Victoria, ensuring the protection of endangered wildlife, including the Gang Gang Cockatoo, the Grey Crowned Babbler and Squirrel Glider, as well as critically endangered flora including Buloke trees, Hairy Tails and Late Flax-Lily.
The revegetation projects are funded by the Private Land Stream of the Victorian Government’s BushBank Program, with significant contributions from co-funding partners, including Land Life Company, a nature reforestation company, and Greenfleet. So far co-funding partners have contributed $5.58 million to projects.
“These outcomes exemplify the collective impact the BushBank Program is having across Victoria,” said Nathan Smith, Chief Executive Officer- Cassinia Environmental. “Through strong partnerships, financial co-funding, and community involvement, we are not only protecting our state’s unique ecosystems but also helping landowners improve their land and contribute to climate solutions.”
Through the program, the participating properties are permanently protected with conservation covenants through program partner Trust for Nature, ensuring the efforts to restore native vegetation on the land is secured forever.
Community Engagement
The BushBank Program engages with local communities such as Landcare groups, and fosters economic benefits and meaningful partnerships with First Peoples through the development of a “Walking Together” Framework. The majority of the 772 kg seed sown has been supplied by Traditional Owner groups. Additionally, the Program is helping to support the developing Victorian seeding industry through the ‘Greening the Environment, One Seed at a Time’ initiative, in collaboration with Seeding Victoria and Natural Resources Conservation Trust.
BushBank Project Examples
Merrinee is a large-scale revegetation site where approximately 1,540 hectares of Mallee habitat are being restored with co-funding from Landlife Company. In 2024, about 650 hectares were seeded and planted, with the remaining area planned for revegetation in 2025 to spread risk and improve chances of success. This project was enabled by using a newly developed CommVeg Seeder which helps plant three lines of seed and a line of seedlings simultaneously.
In Bonnie Doon, the Hutchison family is restoring their 43-hectare property, working closely with the BushBank Program and co-funding partner- Land Life Company, to protect endangered species such as the Gang Gang Cockatoo and improve local water catchment areas. This project demonstrates how the BushBank Program enables landowners to make meaningful contributions to habitat restoration and climate on private property.
The BushBank Program
The BushBank Program’s Private Land Stream is part of the Victorian Government’s $77 million BushBank Program, addressing climate change and supporting wildlife as it restores more than 20,000 hectares of land across Victoria. Cassinia Environmental, as Lead Delivery Partner of the $30.9 million Private Land Stream of the BushBank Program, has already delivered exciting outcomes for landowners and nature through the Program over the first 18 months. The Program partners with Trust for Nature to implement conservation covenants on each project, ensuring the protection of habitat forever.
The Program uses an innovative approach to land restoration that allows for collaboration of funding and resources. The Program helps resource and develop revegetation projects on private land, and in some cases, can provide additional incentive payments to landowners through the transfer of carbon rights to a third party.
The BushBank Revolving Fund was developed in partnership with Trust for Nature to utilise a portion of project funds to purchase degraded properties for restoration, before selling and reallocating funds recouped.
Expressions of interest are open
With even more projects set to begin in 2025, the BushBank Private Land Stream is well on its way to achieving its ambitious restoration goals and making a lasting difference in Victoria’s fight against habitat degradation and climate change. Expressions of interest are open to landowners interested in revegetating private property for habitat restoration.
For more information or to get involved in the BushBank Program, visit: www.cassinia.com/bushbank
Read the 2024 Mid-Year Progress Report: www.cassinia.com/2024-progress-report/
